Public Pension Palooza

Via Mish, a huge battle looms over public pensions.


Nothing seems to be getting more press than pensions of government workers. They can retire at a young age with full health care benefits and a sizable monthly check.

The actuaries must have been out to lunch. These formulas don't pencil out.

I don't think we can change benefits promise to current workers, but going forward it seems like the formulas need to be changed.